HRS §490:9-338
When a filed financing statement has wrong information
This section says what happens if a financing statement filed to perfect a security interest or agricultural lien has incorrect information. If someone relies on that wrong information, they may get priority over the original interest or take the collateral free of it.
buyerscreditorsdebtors
The statute, as written — Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
If a security interest or agricultural lien is perfected by a filed financing statement providing information described in section 490:9-516(b)(5) which is incorrect at the time the financing statement is filed: (1) The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and (2) A purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.
Sections this one refers to
§490:9-516 When a filing counts as filed
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